C1Part 17A company's share capital

Annotations:
Modifications etc. (not altering text)

Chapter 6Public companies: independent valuation of non-cash consideration

Supplementary provisions

607Penalty for contravention of this Chapter

1

This section applies where a company contravenes—

  • section 593 (public company allotting shares for non-cash consideration), or

  • section 598 (public company entering into agreement for transfer of non-cash asset).

2

An offence is committed by—

a

the company, and

b

every officer of the company who is in default.

3

A person guilty of an offence under this section is liable—

a

on conviction on indictment, to a fine;

b

on summary conviction, to a fine not exceeding the statutory maximum.